Ensurance is planning to expand its new terrorism and sabotage insurance product to the Australian market, after securing funding.

It launched the product in the United Kingdom in May and is generating strong interest there. It is also planning to launch into the United States.

The policy provides coverage against damage to buildings, profits, employees or customers from an act of terrorism or sabotage. Two specialist underwriters were sent to the UK market to support the launch.

Its new products are expected to contribute to growth in the second half of the year, the company says. Ensurance’s revenue in the June quarter almost doubled the revenue reported at the same time last year, the insurer says, reaching $660,000.

Ensurance’s senior executives recently extended by two years the maturity of $2.2 million in convertible debt. Executive Chairman Tony Leibowitz and non-executive director Adam Davey hold $200,000 in notes between them.